The Billionaire Wes Edens

The Billionaire Wes Edens

Wes Edens is an American investor and a co-founder of the Fortress Investment Group. He is also a team owner of the famous League of Legends team FlyQuest. Edens alongside Marc Lasry, own a National Basketball Association (NBA) called Milwaukee Bucks.

Career

Wes Edens’ career started at Lehman Brothers in 1987 where he worked as a managing director. In 1993, he went on as a managing director but in BlackRock Asset Investors till 1997.In 1998, alongside other five partners, Edens formed the Fortress Investments. The idea behind Fortress Investments was to develop business through investments. By 2007, Fortress Investments went public with 8% shares sold out. This time, Edens had become paper billionaires. Edens had served as a Co-chairman of the Board of Directors in 2009, chairman of the company in 2015-2016. Recently in January 2017, Fortress has created an eSports’ team called FlyQuest. League of Legends, FlyQuest’s team, plays in the North American League of Legends Championship Series(NALCS).During his tenure of office in Fortress, Eden’s ensured that Fortress became the Springleaf’s majority stakeholder. At this time, Fortress had gained 27 times making him the new king of subprime lending. Eden’s heads the Subprime lender springleaf financial services-also known as American General Finance.Also, Edens chairs the Nationstar Mortgage which is owned by Fortress. Years back, Centex Home Equity Company, LLC was Nationstar Mortgage original name. With Wes Edens as the chairman, Nationstar had many foreclosed homes such that their opponents proposed a public-financial deal to be uplifted.

Education

Edens graduated from Oregon State University in 1984 with a Bachelor degree in Finance and Business Management.

Experience

Edens is an experienced businessman in the USA. He has worked as Hedge Fund Manager as well as a Private equity investor. Wes Edens is a famous investor and a co-founder of Fortress Investment Group and also a co-owner of Milwaukee Bucks.Notably, his track-record is evident. He has accomplished a lot especially in the management positions he has held together with his team. Randal(Randy) Nardone, Michael Edward(Mike), Robert (Rob) Kauffman together with Peter Briger are some of his work colleagues.

Conclusion

Summing up,Edens’ net worth is around $1.2 Billion. Notably, this wealth was accumulated from 2006 when they sold minority interest for $890 million to Nomura. Wes Edens, together with his team has recorded a massive development in the world of business and finance. Edens takes home $54.4 million per year from their company.